National Asset Management Inc. Cuts Stock Position in CDK Global, Inc. (NASDAQ:CDK)

National Asset Management Inc. cut its holdings in CDK Global, Inc. (NASDAQ:CDKGet Rating) by 43.1% in the first quarter, Holdings Channel reports. The institutional investor owned 6,568 shares of the software maker’s stock after selling 4,979 shares during the quarter. National Asset Management Inc.’s holdings in CDK Global were worth $320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CDK. National Bank of Canada FI purchased a new stake in shares of CDK Global during the fourth quarter worth approximately $55,000. NN Investment Partners Holdings N.V. increased its position in shares of CDK Global by 4.0% during the fourth quarter. NN Investment Partners Holdings N.V. now owns 36,633 shares of the software maker’s stock worth $1,528,000 after purchasing an additional 1,400 shares in the last quarter. Bessemer Group Inc. increased its position in shares of CDK Global by 57.8% during the fourth quarter. Bessemer Group Inc. now owns 8,736 shares of the software maker’s stock worth $365,000 after purchasing an additional 3,200 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of CDK Global during the fourth quarter worth approximately $30,443,000. Finally, Illinois Municipal Retirement Fund increased its position in shares of CDK Global by 26.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 26,125 shares of the software maker’s stock worth $1,090,000 after purchasing an additional 5,421 shares in the last quarter. 92.85% of the stock is currently owned by hedge funds and other institutional investors.

CDK Global Price Performance

CDK opened at $54.76 on Friday. The stock’s 50-day moving average price is $54.62 and its 200 day moving average price is $50.51. CDK Global, Inc. has a 12-month low of $38.53 and a 12-month high of $55.12. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 3.98. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 26.20 and a beta of 0.95.

CDK Global (NASDAQ:CDKGet Rating) last posted its earnings results on Thursday, May 5th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.03. CDK Global had a return on equity of 67.84% and a net margin of 14.28%. The firm had revenue of $459.70 million for the quarter, compared to analyst estimates of $457.88 million. During the same quarter in the prior year, the company earned $0.69 EPS. CDK Global’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts expect that CDK Global, Inc. will post 2.53 earnings per share for the current year.

CDK Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 29th. Investors of record on Monday, June 20th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.10%. The ex-dividend date was Thursday, June 16th. CDK Global’s payout ratio is 28.71%.

Analyst Upgrades and Downgrades

CDK has been the topic of a number of recent research reports. Barrington Research lowered CDK Global from an “outperform” rating to an “underperform” rating in a research note on Thursday, April 7th. StockNews.com started coverage on CDK Global in a research note on Sunday, July 24th. They issued a “hold” rating on the stock.

About CDK Global

(Get Rating)

CDK Global, Inc, together with its subsidiaries, provides integrated data and technology solutions to the automotive, heavy truck, recreation, and heavy equipment industries in the United States and internationally. It offers subscription-based software and technology solutions to automotive retailers, as well as to retailers and manufacturers of heavy trucks, construction and agricultural equipment, motorcycles, boats, and other marine and recreational vehicles.

Further Reading

Want to see what other hedge funds are holding CDK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDK Global, Inc. (NASDAQ:CDKGet Rating).

Institutional Ownership by Quarter for CDK Global (NASDAQ:CDK)

Receive News & Ratings for CDK Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CDK Global and related companies with MarketBeat.com's FREE daily email newsletter.